Minister D’Ambrosio launches $5m manufacturing grant program

Victorian Minister for Industry Lily D’Ambrosio has officially launched the Future Industries Fund Manufacturing Program – a $5 million grant program intended to assist the transition of Victoria toward a high-tech manufacturing economy.

Image credit: www.business.vic.gov.au

“This fund will support Victorian manufacturers to invest in new technologies and processes, and help to transition Victoria toward a high-tech manufacturing economy,” the Minister said.

“We’re supporting Victorian businesses to become more innovative, create new products and reach new markets. Grants from the Future Industries Fund will support our businesses to shift into areas that secure today’s jobs and create the high-skill jobs of tomorrow.”

The Manufacturing Program is the first industry grant program under the Labor Government’s $200 million Future Industries Fund.

Victorian manufacturers can now apply for grants of up to $500,000 to invest in new manufacturing technologies and processes that will create new jobs, increase productivity and boost economic growth.

Companies are required to provide a co-contribution of $3 for every $1 granted.